DA Davidson upgraded shares of Pinterest (NYSE:PINS – Free Report) to a strong-buy rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm currently has $26.00 price objective on the stock.
PINS has been the topic of several other reports. UBS Group upped their price target on Pinterest from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Pinterest in a report on Tuesday, May 5th. TD Cowen reiterated a “buy” rating on shares of Pinterest in a research note on Monday, June 22nd. Benchmark dropped their target price on shares of Pinterest from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $24.00 price target on shares of Pinterest in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eighteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pinterest presently has an average rating of “Hold” and an average price target of $27.42.
Check Out Our Latest Stock Report on PINS
Pinterest Stock Up 0.5%
Pinterest (NYSE:PINS – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $965.84 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Pinterest’s revenue for the quarter was up 17.8% compared to the same quarter last year. Sell-side analysts predict that Pinterest will post 0.66 EPS for the current fiscal year.
Insider Activity at Pinterest
In other Pinterest news, Director Gokul Rajaram sold 2,100 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.00, for a total transaction of $42,000.00. Following the completion of the transaction, the director directly owned 27,450 shares of the company’s stock, valued at $549,000. The trade was a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Benjamin Silbermann sold 46,875 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $21.45, for a total value of $1,005,468.75. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 279,070 shares of company stock worth $5,817,283 in the last ninety days. 8.09% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PINS. Norges Bank acquired a new position in Pinterest during the 4th quarter valued at about $357,945,000. Davis Selected Advisers acquired a new stake in shares of Pinterest in the 3rd quarter worth approximately $253,887,000. State Street Corp lifted its stake in shares of Pinterest by 52.6% in the 4th quarter. State Street Corp now owns 21,492,169 shares of the company’s stock worth $556,432,000 after acquiring an additional 7,412,213 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Pinterest by 30.5% in the fourth quarter. Victory Capital Management Inc. now owns 26,808,870 shares of the company’s stock valued at $694,082,000 after acquiring an additional 6,258,628 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Pinterest by 271.1% in the first quarter. Renaissance Technologies LLC now owns 5,988,631 shares of the company’s stock valued at $109,831,000 after acquiring an additional 4,375,000 shares in the last quarter. 88.81% of the stock is owned by institutional investors and hedge funds.
About Pinterest
Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.
The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.
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